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VSMSX vs. VSPMX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between VSMSX and VSPMX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


-0.50.00.51.0
Correlation: 0.8

Performance

VSMSX vs. VSPMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Small-Cap 600 Index Fund Institutional Shares (VSMSX) and Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares (VSPMX). The values are adjusted to include any dividend payments, if applicable.

300.00%350.00%400.00%450.00%NovemberDecember2025FebruaryMarchApril
341.00%
361.86%
VSMSX
VSPMX

Key characteristics

Sharpe Ratio

VSMSX:

-0.16

VSPMX:

-0.04

Sortino Ratio

VSMSX:

-0.06

VSPMX:

0.09

Omega Ratio

VSMSX:

0.99

VSPMX:

1.01

Calmar Ratio

VSMSX:

-0.14

VSPMX:

-0.04

Martin Ratio

VSMSX:

-0.43

VSPMX:

-0.13

Ulcer Index

VSMSX:

8.78%

VSPMX:

7.05%

Daily Std Dev

VSMSX:

23.79%

VSPMX:

21.56%

Max Drawdown

VSMSX:

-44.42%

VSPMX:

-42.04%

Current Drawdown

VSMSX:

-20.54%

VSPMX:

-15.94%

Returns By Period

In the year-to-date period, VSMSX achieves a -13.01% return, which is significantly lower than VSPMX's -8.87% return. Over the past 10 years, VSMSX has underperformed VSPMX with an annualized return of 6.97%, while VSPMX has yielded a comparatively higher 8.03% annualized return.


VSMSX

YTD

-13.01%

1M

-6.46%

6M

-11.62%

1Y

-2.73%

5Y*

13.03%

10Y*

6.97%

VSPMX

YTD

-8.87%

1M

-5.21%

6M

-8.19%

1Y

-0.46%

5Y*

14.51%

10Y*

8.03%

*Annualized

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VSMSX vs. VSPMX - Expense Ratio Comparison

Both VSMSX and VSPMX have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.


Expense ratio chart for VSMSX: current value is 0.08%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VSMSX: 0.08%
Expense ratio chart for VSPMX: current value is 0.08%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VSPMX: 0.08%

Risk-Adjusted Performance

VSMSX vs. VSPMX — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VSMSX
The Risk-Adjusted Performance Rank of VSMSX is 1414
Overall Rank
The Sharpe Ratio Rank of VSMSX is 1414
Sharpe Ratio Rank
The Sortino Ratio Rank of VSMSX is 1515
Sortino Ratio Rank
The Omega Ratio Rank of VSMSX is 1515
Omega Ratio Rank
The Calmar Ratio Rank of VSMSX is 1212
Calmar Ratio Rank
The Martin Ratio Rank of VSMSX is 1313
Martin Ratio Rank

VSPMX
The Risk-Adjusted Performance Rank of VSPMX is 2020
Overall Rank
The Sharpe Ratio Rank of VSPMX is 2020
Sharpe Ratio Rank
The Sortino Ratio Rank of VSPMX is 2121
Sortino Ratio Rank
The Omega Ratio Rank of VSPMX is 2121
Omega Ratio Rank
The Calmar Ratio Rank of VSPMX is 2020
Calmar Ratio Rank
The Martin Ratio Rank of VSPMX is 1919
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

VSMSX vs. VSPMX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Index Fund Institutional Shares (VSMSX) and Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares (VSPMX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.


The chart of Sharpe ratio for VSMSX, currently valued at -0.16, compared to the broader market-1.000.001.002.003.00
VSMSX: -0.16
VSPMX: -0.04
The chart of Sortino ratio for VSMSX, currently valued at -0.06, compared to the broader market-2.000.002.004.006.008.00
VSMSX: -0.06
VSPMX: 0.09
The chart of Omega ratio for VSMSX, currently valued at 0.99, compared to the broader market0.501.001.502.002.503.00
VSMSX: 0.99
VSPMX: 1.01
The chart of Calmar ratio for VSMSX, currently valued at -0.14, compared to the broader market0.002.004.006.008.0010.00
VSMSX: -0.14
VSPMX: -0.04
The chart of Martin ratio for VSMSX, currently valued at -0.43, compared to the broader market0.0010.0020.0030.0040.0050.00
VSMSX: -0.43
VSPMX: -0.13

The current VSMSX Sharpe Ratio is -0.16, which is lower than the VSPMX Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of VSMSX and VSPMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.00-0.500.000.501.001.502.002.50NovemberDecember2025FebruaryMarchApril
-0.16
-0.04
VSMSX
VSPMX

Dividends

VSMSX vs. VSPMX - Dividend Comparison

VSMSX's dividend yield for the trailing twelve months is around 1.72%, more than VSPMX's 1.58% yield.


TTM20242023202220212020201920182017201620152014
VSMSX
Vanguard S&P Small-Cap 600 Index Fund Institutional Shares
1.72%1.49%1.49%1.52%1.17%1.10%1.38%1.39%1.11%1.00%1.33%1.11%
VSPMX
Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares
1.58%1.32%1.27%1.60%1.15%1.24%1.49%1.64%1.27%1.54%1.52%1.32%

Drawdowns

VSMSX vs. VSPMX - Drawdown Comparison

The maximum VSMSX drawdown since its inception was -44.42%, which is greater than VSPMX's maximum drawdown of -42.04%. Use the drawdown chart below to compare losses from any high point for VSMSX and VSPMX. For additional features, visit the drawdowns tool.


-25.00%-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-20.54%
-15.94%
VSMSX
VSPMX

Volatility

VSMSX vs. VSPMX - Volatility Comparison

Vanguard S&P Small-Cap 600 Index Fund Institutional Shares (VSMSX) and Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares (VSPMX) have volatilities of 14.63% and 14.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.


4.00%6.00%8.00%10.00%12.00%14.00%NovemberDecember2025FebruaryMarchApril
14.63%
14.61%
VSMSX
VSPMX